The Wal-Mart Decade - AchieveMax® Top Ten Book Review
The Wal-Mart Decade: How a New Generation of Leaders Turned Sam Walton's Legacy into the World's #1 Company was destined for publication. It was simply a matter of when it would be written and by whom. In fact, I'm amazed that it wasn't published long before this. Wal-Mart is so much more than the smiling faces of the senior citizens who greet you with open arms at the front of the store, it's more than the bouncing Smiley Face continually reducing prices in every aisle, and it's certainly much more than a typical discount store chain headquartered in the small Arkansas town of Bentonville. Wal-Mart is the real thing. It's here to stay. It's a world-class company.
There is much to learn from this corporate giant that recently moved into the #1 spot on the Fortune 500 ahead of GM, Exxon Oil, Ford Motor, and GE. Do you think Wal-Mart simply stumbled into that coveted position? Consider this:
- Wal-Mart has revenues of $246 Billion;
- Wal-Mart has 1 million 300 thousand employees;
- Wal-Mart has mastered logistics and the supply chain;
- Wal-Mart shares its strategic vision with each and every employee;
- Wal-Mart leaders never rest on their laurels;
- Wal-Mart continually find ways to reduce costs while improving the shopping experience for its customers;
- Wal-Mart is the first company ever to head both the Fortune 500 list of American companies and that magazine's list of Most Admired Companies; and
- the Wal-Mart management team has devised and then implemented strategies for rapid but prudent growth.
The greatest strength in the Wal-Mart arsenal is the fact that their CULTURE is everything. It's hard to argue with the reality of Wal-Mart's continued performance.
I think it's important to realize that the author of this book isn't a devoted Wal-Mart fan trying to recruit additional followers for the retail giant. Robert Slater was a reporter for Time Magazine for 21 years. He is the best-selling author of Jack Welch and the GE Way and has also written acclaimed books about IBM and Cisco. He probed deeply into the Wal-Mart organization from top to bottom, from Bentonville to China and beyond. This book offers a fresh and fascinating look at this unique company-as it was and as it has become-with an immediacy and insider's feel unrivaled since Sam Walton's own memoir, Made In America.
Sam Walton set the bar high for his future leaders. He created a unique culture based on three basic beliefs:
Respect for the individual;
Service to the customers; and
Striving for excellence.
Walton was also totally committed to what he characterized as his Ten Rules of Business ... each of which is explained in detail in the book. The author allocates three of 14 chapters to "The Founder and His Legacy." He wisely devotes the remainder of his book to explaining how the new management team devised and then implemented strategies for tremendous growth.
There really have been three quite different periods of Wal-Mart's development from a Ben Franklin franchise (opened in Bentonville as the Walton 5 and 10 in March of 1951) to the global retailing giant it is today. The three periods include the Sam Walton Years until his death in 1992, the David Glass Years (1992-2000), and the Lee Scott Years (2000-Present).
For years, many people asked about Wal-Mart the same question that others asked about Southwest Airlines: "What's going to happen after HE leaves?" With all due respect to both Sam Walton and Herb Kelleher, their respective organizations have done just fine. Perhaps that is the ultimate test of leadership: a heritage which endures after the leader is either gone or much less involved. In this exceptionally informative book, Slater explains how and why such a heritage guides and inspires the entire Wal-Mart organization.
More than 100 business book reviews written by Harry K. Jones are available at www.AchieveMax.com/books/index.htm">http://www.AchieveMax.com/books/.
Your organization may reprint this article for your newsletter, online publication, or mailing list. We ask that you print the:
- article in its entirety;
- byline of the writer;
- information about the writer, which is available at the end of each article; and
- contact information, including our toll-free phone number in the U.S. (800-886-2MAX) and link to our website - www.AchieveMax.com.
We would appreciate a tear sheet or electronic copy of the articles you reprint.
www.AchieveMax.com/motivational-speaker-harry.htm">Harry K. Jones is a professional speaker and consultant for AchieveMax®, Inc., a firm specializing in custom-designed keynote presentations, seminars, and consulting services. Harry has made presentations ranging from leadership to employee retention and time management to stress management for a number of industries, including education, financial, government, healthcare, hospitality, and manufacturing. He can be reached at 800-886-2MAX or by visiting www.AchieveMax.com">http://www.AchieveMax.com.
Librarian of Congress Carla Hayden announced today that Richard Ford, author of "Independence Day" – the first novel to win both the Pulitzer Prize and the PEN/Faulkner Award – will receive the Library of Congress Prize for American Fiction during the 2019 Library of Congress National Book Festival on Aug. 31.
In 2015, with the purchase of the Shakespeare & Co. name in the U.S. and the successful acquisition of a lease to the store's former 5,000 sq. ft. location on Lexington Ave. on New York's Upper East side, Dane Neller, cofounder and CEO of On Demand Books (the maker of the Espresso Book Machine) and a group of investors took the first steps toward creating an indie bookstore chain. While Neller and friends are still shy of the number of locations that their namesake had at its height, six stores in New York City, the group plans to surpass that number next year...
The bestselling author who accused her husband of poisoning her was jailed for direct contempt after a court hearing last month.
Kenyon was accused of calling one of her husband's attorneys a "f---ing liar" as she abruptly left the courtroom during the hearing on April 23. After returning to the courtroom minutes later, she accused one of her husband's family members of being a pedophile.
Herman Wouk, the Pulitzer Prize-winning author of the Navy drama The Caine Mutiny, whose sweeping novels about World War II, the Holocaust and the creation of Israel made him one of the most popular writers of his generation and helped revitalize the genre of historical fiction, died May 17 at his home in Palm Springs, Calif. He was 10 days shy of his 104th birthday.
Faber emerged victorious at the British Book Awards 2019 on Monday evening (13th May), with Sally Rooney's Normal People scooping the coveted Book of the Year award. The book had earlier won the Fiction Book of the Year prize, while Faber stablemate Leila Slimani's Lullaby won the Debut Fiction category. The 90-year-old company also took the Independent Publisher of the Year gong in the trade section of the awards.
Jean Vanier, founder of L'Arche communities for adults with learning disabilities, living alongside those without them, has died aged 90.
In August 1964, having giving up his job teaching philosophy at the University of Toronto, he bought a small, rundown house without plumbing or electricity in the village of Trosly-Breuil, north of Paris, and invited two men with learning disabilities – Raphaël Simi and Philippe Seux – to share it with him. Both had been living in an asylum and were without family.
Today L'Arche (the ark) has 150 communities, in 38 countries, supporting 3,500 people with learning disabilities.
Vanier wrote 30 books on spirituality and community, including Community and Growth (1979), Becoming Human (1998), Befriending the Stranger (2005) and Life's Great Questions (2015). In 2015 he was awarded the £1.1m Templeton prize, for making "an exceptional contribution to affirming life's spiritual dimension".
The Poetry Foundation has announced Marilyn Nelson as the winner of the 2019 Ruth Lilly Poetry Prize, Naomi Shihab Nye the 2019–2021 Young People's Poet Laureate, and Terrance Hayes winner of the 2019 Pegasus Award for Poetry Criticism. The awards are sponsored and administered by the Poetry Foundation, an independent literary organization and publisher of Poetry magazine, and will be presented at the Pegasus Awards Ceremony at the Poetry Foundation in Chicago on Monday, June 10.
Novelist Ben Dolnick waxes lyrical on the benefits or ditching Netflix for a novel. And not just because a novelist is telling you to:
One night a couple of summers ago, the power went out and, unable to watch Netflix or engage in my customary internet fugue, I lit a candle and picked up a thriller by Ruth Rendell. For the first time in as long as I could remember, my sole source of entertainment for an evening was going to be a book...
Cengage and McGraw-Hill, two of the largest academic publishers remaining, have agreed to a merger on equal terms that is expected to close by early 2020, the companies announced yesterday.
Baker & Taylor has made it official: it is leaving the wholesale retail book market. The move was hinted at when it became public late last year that the company was in talks to sell its retail operations to Ingram and then in the departure over the last few months of key retail staff members. B&T will focus on its traditional core business of servicing libraries, as well as publisher services...
Paul Swydan, owner of the Silver Unicorn Bookstore, West Acton, Mass., wrote on Twitter, "It means I will make less money when I fill special orders for customers, because Baker & Taylor's sole competition offers a much lower discount." He added, "In the larger sense, it's another example of how Amazon is crippling this country in their mostly unchecked quest to monopolize any business they choose to focus on."